Nio Expansion Drive Targets 4,000 Battery Swap Stations by 2025

Nio (NIO) has embarked on an ambitious knowing as it seeks to develop its battery swap set aside network. The Chinese language manufacturer plans to set up over 700 battery swap stations this year, revising the preliminary goal of 500. It moreover plans to set up 600 such stations in China from 2022 to 2025.

Nio plans to have a network of over 4,000 battery swap stations worldwide by 2025, with around 1,000 stations out of doors China. The enlargement drive is half of its push to present a better service skills to its growing user substandard. In addition, the company says its charging and swapping machine could be available to the broader auto business and electric automotive customers. (Peek Nio stock charts on TipRanks)

Nio has built 301 Energy Swap stations thus far. It moreover has 204 Energy Charger stations and 382 destination charging stations in China. The Chinese language manufacturer has moreover performed 2.9 million swaps. By 2025 it plans to have 90% of its customers living not as much as 3km far from a battery swap, an development from the contemporary 29%.

Citi analyst Jeff Chung not too long ago reiterated a Purchase rating on NIO with a $72 tag goal implying 58.1% upside capability to contemporary phases. The analyst is optimistic about the company’s prospects after management hinted at month-over-month development lying ahead for the company.

In June, Nio delivered 8,083 devices, which is in direction of the better destroy of the management guidance and affirms the underlying development. Whereas the business continues to face chip shortages, the analyst expects provide constraints to influence development for a temporary duration.

“Management expects a sequential MoM and QoQ sales volume development into 2H21E for NIO; nonetheless at this stage it is rational to provide an especially conservative forecast between 7k – 8k per month into 3Q21E,” Chung said.

Consensus amongst analysts is a Solid Purchase in step with 9 Buys. The moderate Nio tag goal of $64.22 implies 41.05% upside capability to contemporary phases.

NIO rankings a 9 out of 10 on TipRanks’ Tidy Rating rating machine, indicating that the stock has accurate capability to outperform market expectations.

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